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Gateway South
Baltimore, Maryland

Gateway South was a development opportunity that was offered by Baltimore
City and awarded to the Cormony Development team in January, 2007 after
a competitive RFQ and RFP process. This project is no longer active because
the development team reached an agreement with the City of Baltimore in
June, 2011 allowing the City to pursue a gambling facility on the site.
The project remains a great example of how Cormony maximizes “value”
during project planning and pre-development via zoning, design, financing
strategies, pre-construction, project management and overall team building.
The project’s specific and unique attributes led to the creation of a partnership
with Baltimore Ravens football star Ray Lewis, and to the creation of a project
team uniquely qualified to create and implement the vision, as written while
the project was still active, that follows:

“Gateway South is a marquee, eleven acre, underdeveloped,
underutilized, Brownfield site made up of multiple parcels on the waterfront
in south Baltimore City. It forms a principle gateway into the City from the
airport, Annapolis, Washington D.C. and all other points south. It is bordered
by the Camden Yards sports complex to the north, the Middle Branch of the
Patapsco River to the east, Russell Street to the West and interstates I-295
and I-95 to the south. The Hanover Street Light Rail Station is less then a
half mile away at the Camden Yards Sports Complex, the MARC Train
Station is just north of that (also at the Camden Yards Sports Complex)
and the fourteen mile long Gwynns Falls Trail runs immediately adjacent
to the site.

The site has phenomenal access to the highway system as it is
immediately off of both I-95 and I-295. Public transportation (via the
Light Rail and the MARC Train) is within a 10 minute walk. The adjacency
to Baltimore’s sports center (the Camden Yards Sports Complex, home to
Oriole Park and M&T Bank Stadium), Baltimore’s tourist and recreational
district and the City’s growing residential communities (including Federal
Hill and South Baltimore, the proposed Westport development and
Downtown) offer a tremendous opportunity. The site’s location between the
major thoroughfare of Russell Street (I-295) and the 395 ramp/bridge into the
City off of I-95 creates the most directly visible location in Baltimore, with 40%
of the City’s daily commuter traffic driving directly by the site. The
irreplaceable location on the waterfront, the City Park and the scenic
bike trail provide an additional opportunity to create a special experience.
Additionally, the project will extend the City’s growth south from the Inner
Harbor.

The development plan (which has already received master plan approval
from the City) is for an active and lively transit oriented mixed use project that
includes 1,000,000 sf of class A waterfront office space, 150,000 sf of retail,
a 90,000 sf indoor sportsplex, a 70,000 sf multimodal transportation terminal,
parking and a rehabilitated site on which to locate the development and with
which to connect the City’s greater open space network.

The ground level of the project is being developed as an urban, waterfront
sports and recreation complex modeled after Chelsea Piers in New York
City with a modern, glass office structure above. The vision includes the
sportsplex, with a glass enclosed rock climbing wall adjacent to the water,
a state-of-the-art fitness center, other recreational components and supporting
retail, such as a sporting goods store, a specialty bike shop, restaurants and
other fitness and recreational oriented retail.

The ownership structure includes Baltimore Ravens linebacker Ray Lewis.
The Ray of Hope Center (Ray Lewis’ foundation to be created at Gateway
South) is envisioned as a tutoring, life skills and mentoring center that will
use the project’s sports/recreation venues in its programming and base of
office users for its mentoring program.

The project is envisioned as a truly diverse place that will attract everyone
from the Baltimore-metropolitan area and beyond.

Additionally, Gateway South is a sustainable development that is committed
to LEED certification (or some other potentially comparable designation).
Gateway South is a great, visible location for green roofs. This creates a
spectacular opportunity for a very visible and public project to be developed
“green.” The developer is also committed to facilitating the restoration and
conservation of the site’s natural environment, and the incorporation of the
project into the site. To this end the Team is working diligently to improve
the adjacent and surrounding areas as well.

The project is a big job creation vehicle for the City with over 1.3 million
square feet anticipated in the program. The project will also generate
significant new tax base for the City. The project will also benefit from the
opportunities associated with being located in an Enterprise Focus Area.”


For more information contact:

Laura Steichen
laura@cormonydevelopment.com

Baltimore
3401 Greenway, Suite 51
Baltimore, MD 21218
410-235-1151


 
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